USD/GBP Rate & Comments for 31st January 2012

US$/GBP – 1.5735

Sterling had a steady day as most of the news was generated elsewhere. The main news was in Europe with the EU summit meeting in Brussels. At one stage sterling hit a one month low against the euro hitting resistance at €1.19/£1. Although risk aversion was heightened there was little significant movement either against the US$ or the commodity backed currencies. Call in now for the latest update and the latest news.

In the US we had the release of personal income and expenditure figures for December. These highlighted the fall in real spending by the US population towards the end of the year and show that although the US economy is moving forward it still has a long way to go. Markets were also subdued as we wait for a raft of further economic data during the course of this week both in the US [non-farm payrolls employment report] and elsewhere [Chinese manufacturing figures].

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Posted January 31st, 2012 by Charles Purdy

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